ArticlesHedge Funds

Member sign in:

Join now (it's free):

Thank you for registering!

A confirmation email has been sent to your email(If you do not see it, please check your spam folder)Please confirm your registration and enjoy HedgeTrackerAfter confirming registration, please Sign in

Hennessee Group LLC announced yesterday that its hedge fund index was up just 0.23% in March and 2.35% year-to-date. In comparison, the Standard & Poor’s index was up 5.43% during the same period in 2011, but down 0.10% in March. Also, Hedge Fund Research, another Hedge fund research firm which aggregates data on over 2,200 hedge funds for its Hedge Fund Research Index, said its average hedge fund was up 0.31% in March and 1.99% YTD.

The strongest performers in the Hennessee index were technology (+5.2%) and healthcare-focused (+1.7%) hedge funds, while overall long/short equity funds were up 0.23%.

Poor performance was largely attributed to volatility caused by the earthquake in Japan and the widespread unrest and instability in the Middle East. Hennessee’s Global/Macro Index was up 0.32% but the Macro Index fell -1.33% in March and -1.29% YTD. Furthermore, The Hennessee International Index fell 0.50% in March, though was still up 1.32% YTD.

However, Fortress Investment Group was one winner in March, with its Asia Macro Fund up 3.5% in March. Fortress Investment Group’s Global Macro Fund was also up 1.8% and its commodities fund rose 1.5% in March. Notably, according to reports, all of Fortress Investment’s hedge funds recorded gains in March.